If I can make a correction, both are done using different types of color changing paint. The first pic was most likely done with either Alclad or Spaz Stix color change paint. The type of paint has hard color shifts and often, many colors changes. When it changes, it looks like all or most of the paint changes from one color to another. The good news is this paint can be had in a spray can now from Spaz Stix.
The second one was most like done with Parma Faschange paint. The Parma Faschange is a soft shift or highlight paint, meaning it doesn't change colors on the whole car, just the light high lights. You spray that on with an airbrush in one light coat, then back it. I am guessing on that one they used a Faschange Red, then backed with silver.